Rs 450B Opportunity in Upgrading India's Ageing Office Spaces

11 Apr 2025 CW Team

According to a JLL report released on Friday, across seven top Indian cities, there is a business opportunity worth Rs 450 billion in upgrading and modernising existing office buildings. Approximately 62 per cent of top-quality office spaces in these cities are outdated in some way and need upgrades — over 530.8 million square feet of space.

The outdated quality of these spaces is due to the fact that many of them were built in the first decade of the millennium. Additionally, even upgrades before 2020 are considered to be outdated since technology is advancing at a rapid pace and tenants have more dynamic needs and expectations of their offices.

Of the seven cities — Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai, and Pune — Bengaluru offers the largest potential, having 155.9 million square feet of office space in need of repair. Although the cost of doing so is estimated to be Rs 144.1 billion. Delhi NCR, Mumbai, and Hyderabad follow Bengaluru as key markets; together they represent 75 per cent of occupier activity in the country and thus need development to keep offices operational. If these properties were to be retrofitted, the owners can expect rental premiums of 15-30 per cent, with some prime locations seeing increases of up to 50 per cent.

Infrastructure Urban

09 Mar 2026

Flender Inaugurates Wind Gearbox Test Rig In Chennai

Chennai, 6 March 2026: Flender has inaugurated a 13.5 MW wind turbine gearbox test rig at its Walajabad facility near Chennai, marking the installation of the largest test rig of its kind in India. The facility was inaugurated on 5 March in the presence of Andreas Evertz, CEO, Flender Group; Lars Wiegemann, Vice President – Wind Gears; and Vinod Shetty, CEO, Flender India.The test rig has been developed to support testing and validation of wind turbine gearboxes, strengthening the company’s capabilities in the renewable energy sector. The commissioning was completed within three months thr..

BMW Industries partners with IOCL for PNG supply at Bokaro plant

BMW Industries has entered into a strategic partnership with Indian Oil Corporation (IOCL) for the supply of Piped Natural Gas (PNG), reinforcing its commitment to adopting cleaner and more efficient energy sources for its operations.The agreement was signed at the Eastern Region Pipelines (ERPL) headquarters in Kolkata. The partnership is expected to support the company’s upcoming manufacturing facility in Bokaro by facilitating the use of natural gas as a primary energy source.According to the company, the adoption of PNG will help enhance operational efficiency while also contributing to ..

Bombay Realty Secures RERA for Three ICC Tower in South Mumbai

Bombay Realty, the real estate arm of Bombay Dyeing and part of the Wadia Group, has received Real Estate Regulatory Authority (RERA) certification for Three ICC – Wing A, the latest luxury residential tower at Island City Center in Mumbai’s Dadar.The RERA registration marks a key milestone in the development timeline and reinforces the company’s focus on regulatory transparency, timely project delivery, and high construction standards.Following the success of One ICC and Two ICC, the upcoming Three ICC tower represents the next phase of the Island City Center development. The project ai..